The phrase refers to the practice of individuals, rather than corporate entities or property management companies, offering their residential properties for lease in a specific geographic area. This encompasses a variety of housing types, from single-family homes and apartments to condominiums and townhouses. The potential tenant is thus dealing directly with the property owner, negotiating lease terms and managing the rental agreement without intermediary involvement.
The prevalence of this rental approach offers benefits in flexibility and personalized service. Direct communication with the property owner can streamline the application process, facilitate faster response times to maintenance requests, and foster a potentially more amicable landlord-tenant relationship. Historically, private rentals have played a significant role in providing housing options in communities, often catering to niche markets or offering properties not typically found through larger management firms.
